Gabriel Money’s co-founder and CEO, Rodrigo Dantas e Silva, made the move to the United States from Brazil back in 2017. Motivated by his family’s adjustment to life in a new country, he established Gabriel Money with the aim of assisting young Latino adults in kickstarting their financial journey in a manner that respects their cultural beliefs regarding money management.
According to a survey conducted by UnidosUS and Oportun, a Hispanic civil rights and advocacy organization, Latinos are twice as likely as the average American to be credit invisible.
The Gabriel Money Secured Card, in conjunction with the educational resources and money management features available on the Gabriel Money app, can aid users in building credit, as their payments are reported to the three primary credit bureaus. Additionally, the card has stringent limits in place to prevent users from falling into debt.
Here are five key aspects to know about the Gabriel Money Secured Card, which is issued by Evolve Bank & Trust.
1. No Social Security number or credit check required
When applying for the Gabriel Money Secured Card, you have the option to provide either a Social Security number or an Individual Taxpayer Identification Number (ITIN). An ITIN is a nine-digit number issued by the IRS to non-U.S. citizens who need to file a tax return. Furthermore, unlike most credit cards, there is no credit check during the application process, which is beneficial for individuals without a U.S. credit history.
2. The app plays a significant role in the card experience
To apply for the Gabriel Money Secured Card, you must first download the Gabriel Money app. Once you have completed the application and deposited funds into your secured account, you will gain access to a virtual card that can be added to your digital wallet. The app allows you to monitor purchases, check your credit score, interact with Gabi (the app’s A.I.-powered chatbot), receive daily financial tips, and participate in weekly trivia.
3. No balance can be carried
The Gabriel Money Secured Card does not incur interest since users are unable to carry a balance or accumulate debt. Instead, a minimum of $100 must be deposited into a secured Gabriel Money account, which then serves as the credit limit. When the bill is due, users can transfer funds from their preferred bank account to pay it off. Failure to do so will result in the necessary funds being withdrawn from the secured account.
4. Cash-back rewards can be earned
Every purchase made with the Gabriel Money Secured Card earns users 1% cash back. These rewards are automatically deposited into the secured account on a monthly basis.
5. Additional features are in development
According to Dantas e Silva, Gabriel Money regularly seeks feedback from customers to enhance their products. Several updates and additional tools, including a “Budget Command Center” (scheduled for beta launch in the second quarter of 2025), where users can track income and expenses, receive personalized savings suggestions, and have cash-back rewards credited daily to secured accounts, are currently in progress. Additionally, a lower initial deposit minimum is being considered.
While the Gabriel Money Secured Card offers numerous benefits, it is essential to note that there is no upgrade path available for users whose credit scores improve and are eligible for other cards. Some starter credit cards serve as a pathway to other cards offered by the same issuer.
For individuals with established credit but no Social Security number, the Capital One Quicksilver Secured Cash Rewards Credit Card, with a $0 annual fee and 1.5% cash back on all purchases, is a viable option. With responsible usage, cardholders may be upgraded to an unsecured version of the card. However, the minimum security deposit required is $200, which may pose a challenge for some individuals.
Alternatively, the Chase Freedom Rise® card, which earns 1.5% cash back on all purchases and provides a $25 statement credit for signing up for automatic payments within the first three months, is another option for those with a strong credit history but no Social Security number. Cardholders can apply with an ITIN and may be eligible for an upgrade to a Chase Freedom Unlimited® based on their payment history. Maintaining a balance of at least $250 in Chase checking or savings accounts can increase the likelihood of qualifying for the Chase Freedom Rise®.
It is important to note that both cards accrue interest, so users should use them responsibly to avoid accumulating debt.